Steve, Director of Financial Coaching: “I am thrilled to be applying my skills and experience to the business coaching department at Wiserways. My aim will be to work closely with manufacturing and engineering business owners, MDs and FDs across the country and assist them with utilising our financial analysis technology, helping them comprehend exactly where their business lies financially and what they should be aiming for. Essentially, I will be offering all the advice of a Financial Director at a fragment of the price.”
The midlands based company, Wiserways, recently appointed Steve Nugent, formal Managing Director of Foster Industrial, as their new Director of Financial Coaching. The UK based company aims for the new role to provide knowledge driven support to manufacturing and engineering companies nationwide. Steve’s previous experience expands through a collection of business categories such as; engineering, financial, distribution and industrial where he has acquired his B2B and B2C expertise.
Lawrence Duncan – Managing Director of Wiserways explains,
“Steve was top runner for the new role and his ambition and dedication is exactly what we were looking for. His extensive experience within the industry means he is the best advisor for our business clients. Instead of concentrating solely on sales he will also be working with the clients to explain how to go about generating finances for their business that currently don’t exist.”
Steve adds, “The reality is that pre-COVID-19 the ‘death rate’ of UK SME companies was about 12% per annum, with 80% of these being due to financial problems. Now the UK economy is in a Coronavirus lured recession; businesses must concentrate on their cash flow to thrive, quintessentially those in the manufacturing and engineering industries,”
“We used the software and ran a diagnostic assessment on a £6m turnover manufacturing business. The data showed a precise growth plan. We took the information gained and liaised with the customer to heighten its finances from -£15k to +£266k. Net profit went from +£2k to +£340k with the business value climbing from +£322k to +£1.9m in the space of a year.”